Italian espresso goals become Chinese | Luxembourg word

Italy’s classic espresso mate becomes Chinese: the Bialetti company, The best -known manufacturer of the octagonal coffee cooker for the stove has been taken over by the Chinese entrepreneur Stephen Cheng from Hong Kong. Its consortium acquired almost 79 percent of the Bialetti shares through Luxembourg’s investment fund Nuo Capital, as both companies said. The purchase price was estimated at around 53 million euros. Bialetti has been in trouble for some time.

The jugs – in Italian: Caffettiera or shortly even Moka – were developed in the 1930s by company founder Alfonso Bialetti (1888-1970). After the Second World War, the steel steel steel steel steel steel. In many Italian households – now far beyond – the silver jugs belong to standard equipment. They have long been available in other shapes and colors.

But for some years now capsule systems have been competing with Bialetti and other espresso machine manufacturers. According to media reports, the company is indebted with more than 100 million euros and is in arrears with tax payments to the Italian state. Bialetti also sells electric coffee machines, cups and coffee as well as other smaller kitchen appliances. The brand is represented with its own shops in many Italian cities.